Truvestments Capital LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Truvestments Capital LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 665 shares of the financial services provider’s stock, valued at approximately $83,000.

Several other institutional investors have also recently made changes to their positions in the business. Swiss National Bank grew its holdings in Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after acquiring an additional 4,941 shares in the last quarter. PGGM Investments bought a new stake in Apollo Global Management in the 1st quarter valued at $840,000. Mackenzie Financial Corp lifted its stake in Apollo Global Management by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock worth $21,119,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in Apollo Global Management by 112.3% in the 3rd quarter. Atria Investments Inc now owns 19,498 shares of the financial services provider’s stock worth $2,435,000 after purchasing an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APO. Redburn Atlantic initiated coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. TD Cowen lifted their price objective on Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Redburn Partners began coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Wolfe Research initiated coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Stock Up 0.5 %

Shares of NYSE APO opened at $175.64 on Wednesday. Apollo Global Management, Inc. has a 52-week low of $88.58 and a 52-week high of $176.75. The firm has a market capitalization of $99.38 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.73 and a beta of 1.59. The stock has a 50 day moving average price of $144.17 and a 200 day moving average price of $125.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.05%. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.